GDP

Increased saving can be an important driver of future economic growth and rising living standards. That is the conclusion of a new report by Oxford Economics – Another Penny Saved: The Economic Benefits of Higher US Household Saving – sponsored by AARP and 10 other organizations. The U.S. personal saving rate has been declining for more than 30 years. And the report’s authors project the rate will drop further – from around 4 percent today to about 3 percent …